North Dakota Small Business Loan Issued to Special Die And Tool, Die Set, Jig, And Fixture Manufacturing Company

Business loans in North Dakota are tough to come by these days. We take a look at one North Dakota business loan, provided by a North Dakota bank, that was approved by the SBA.

This small business, based in Cooperstown, North Dakota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Forward. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL DIE AND TOOL, DIE SET, JIG, AND FIXTURE MANUFACTURING
COOPERSTOWN, ND 58425

SBA Loan Lender

BANK FORWARD
802 BURREL AVE SW
COOPERSTOWN, ND 58425

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333514 - Special Die and Tool, Die Set, Jig, and Fixture Manufacturing

Loan Approval Date

4/17/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 152 employees. The SBA loan documents indicated that the loan would help generate 76 new jobs and retain 76 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Forward that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Role of Business Plan When Raising Money

Small Business Banks in Cooperstown, North Dakota

Where to Get an SBA Loan North Dakota